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Two Years After Meltdown, Third Avenue Fund Drops Again: (TFCIX)

TedTed
in Fund Discussions
FYI: Third Avenue Management LLC’s Focused Credit Fund imploded in late 2015 when credit markets turned rocky. On Wednesday, Third Avenue told investors it marked down the value of its remaining positions by more than 50%.
Regards,
Ted
http://www.cetusnews.com/business/Two-Years-After-Meltdown--Third-Avenue-Fund-Drops-Again-.ry7YCtc-PoUG.html

M* Snapshot TFCIX Performance:
http://performance.morningstar.com/fund/performance-return.action?t=TFCIX&region=usa&culture=en_US

Comments

  • BrianW
    The house which Marty Whitman built seems to be in shambles.
  • TedTed
    @BrianW & MFO Members Yes, its a shame, for years Marty was my go to guy for advice distressed securities.
    Regards,
    Ted
  • BrianW
    Mr Whitman helped to convince me of the value of Value investing. I stopped investing in TAVFX after he stopped being the lead Manager. I also recognize this is the danger of investing with a 'Star' Manager. One day I'll face the same thing with Chuck Akre, but I've learned and benefited from both.
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